Fiduciary Trust Co Acquires 2,904 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Fiduciary Trust Co grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 18.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,279 shares of the financial services provider’s stock after buying an additional 2,904 shares during the quarter. Fiduciary Trust Co’s holdings in Intercontinental Exchange were worth $2,936,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ICE. B. Riley Wealth Advisors Inc. grew its stake in Intercontinental Exchange by 61.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 8,082 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 3,062 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in Intercontinental Exchange in the first quarter worth approximately $233,000. LRI Investments LLC purchased a new stake in Intercontinental Exchange during the first quarter worth $50,000. Swedbank AB purchased a new stake in Intercontinental Exchange during the first quarter worth $11,075,000. Finally, PGGM Investments lifted its holdings in Intercontinental Exchange by 87.3% during the first quarter. PGGM Investments now owns 8,388 shares of the financial services provider’s stock worth $1,153,000 after buying an additional 3,910 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.4 %

ICE stock opened at $161.19 on Friday. Intercontinental Exchange, Inc. has a one year low of $111.82 and a one year high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $160.59 and its 200-day moving average price is $151.66. The firm has a market cap of $92.55 billion, a PE ratio of 38.20, a PEG ratio of 2.66 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ICE. Morgan Stanley upped their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. The Goldman Sachs Group raised their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,696 shares of company stock valued at $1,554,559 over the last quarter. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.